Japan's Nikkei set to snap four sessions of gains on growth worries [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
Company Research
Source: Reuters
that surging inflation would eat into corporate profits and usher in an economic slowdown. Dragged down by losses in retailer Fast Retailing, the Nikkei was 2.6% lower at 26,212.25 as of 0213 GMT. The broader Topix fell 2.09% to 1,845.07. “With the U.S. shares losing momentum, it was hard for Japanese shares to rise,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute. “But the Nikkei is relatively firm as it has not touched a bottom it hit in March. That is because in part the weaker yen makes Japanese shares look cheaper and lifted corporate profits.” U.S. stock indexes plunged on Wednesday after Target's earnings showed the toll of rising price pressures, sending the retailer's shares down by a quarter and deepening worries about the impact of inflation on the U.S. economy. It was the worst one-day loss for the S&P 500 and Dow Jones Industrial Average since June 2020. In Tokyo trading, Uniqlo owner Fast Retailing fell 3.36% and chip-makin
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